Norrep US Class Shareholders Approve Change in Investment Objective and Fund Name

CALGARY, ALBERTA--(Marketwire - Jan. 10, 2013) - Hesperian Capital Management Ltd. is pleased to announce that shareholders of Norrep US Class of Norrep Opportunities Corp. (the "Fund") have voted in favour of a proposal that the investment objectives of the Fund be changed from a focus on small and micro-capitalization U.S. equities to a broader mandate focused on dividend-paying U.S. equity securities of all market capitalizations (the "Investment Objective Change"). The Investment Objective Change is anticipated to be effective as of market close on January 31, 2013.

Shareholders also voted in favour of the change of the name of Norrep US Class to Norrep US Dividend Plus Class to better reflect the Investment Objective Change (the "Name Change"). In addition, the benchmark for the Fund will change to the S&P 1500 Total Return Index in Local Currency. Detailed information regarding the Investment Objective Change and the Name Change can be found in the Management Information Circular of the Fund posted on www.sedar.com.

The increased emphasis on dividend-paying equities reflects the important contribution dividend yield has made to stock market performance. We believe that dividends provide an objective measure of value independent of accounting methods and management judgment, and that paying dividends instills some level of capital discipline. This also indicates that management is focused on returning value to shareholders. In our opinion, dividend-yielding equities will continue to be attractive given an aging demographic, a strong appetite for yield and low government bond yields.

Transitioning from a small cap equity fund to a broader mandate will enhance the flexibility of the Fund to allocate capital between asset classes depending on our view of the markets. The addition of larger and mid-sized companies to the equity portion of the portfolio should add diversification to the portfolio and help reduce the risk of the Fund.

Hesperian Capital Management Ltd. is an independent investment management firm with offices in Calgary and Toronto. Please visit www.hesperiancapital.com for more details.

Certain information set forth in this press release, including a discussion of future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources, and timing of receipt of required regulatory approvals. Actual results, performance or achievement could differ from those expressed in or implied by these forward-looking statements.